Analysts Set Open Lending Corporation (NASDAQ:LPRO) Target Price at $2.77

Shares of Open Lending Corporation (NASDAQ:LPRO) have been assigned a consensus rating of “Hold” from the six analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $2.7750.

A number of brokerages have recently weighed in on LPRO. Weiss Ratings restated a “sell (e+)” rating on shares of Open Lending in a report on Tuesday, June 9th. Wall Street Zen raised shares of Open Lending to a “sell” rating in a report on Saturday. Northland Securities set a $3.15 target price on shares of Open Lending in a research report on Wednesday, June 17th. Finally, DA Davidson reissued a “neutral” rating and issued a $3.15 price target (up from $3.00) on shares of Open Lending in a research note on Friday, June 26th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Prospect Capital Advisors LLC purchased a new stake in Open Lending during the 1st quarter valued at about $104,000. R Squared Ltd lifted its position in Open Lending by 25.6% in the first quarter. R Squared Ltd now owns 35,905 shares of the company’s stock valued at $45,000 after purchasing an additional 7,315 shares during the last quarter. LB Partners LLC lifted its position in Open Lending by 2.9% in the first quarter. LB Partners LLC now owns 5,400,841 shares of the company’s stock valued at $6,751,000 after purchasing an additional 150,000 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Open Lending by 11.3% during the first quarter. Wasatch Advisors LP now owns 7,054,107 shares of the company’s stock valued at $8,818,000 after purchasing an additional 716,509 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Open Lending by 6.8% during the fourth quarter. Invesco Ltd. now owns 285,148 shares of the company’s stock valued at $442,000 after purchasing an additional 18,118 shares during the period. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Open Lending Stock Performance

Shares of NASDAQ LPRO opened at $3.14 on Friday. The stock’s 50-day moving average is $2.87 and its 200 day moving average is $2.05. The stock has a market cap of $369.50 million, a price-to-earnings ratio of -78.50 and a beta of 2.19. Open Lending has a 1-year low of $1.17 and a 1-year high of $3.15. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.00.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Thursday, May 7th. The company reported ($0.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.01). Open Lending had a positive return on equity of 7.53% and a negative net margin of 5.95%.The firm had revenue of $20.49 million during the quarter, compared to analysts’ expectations of $20.41 million. On average, sell-side analysts anticipate that Open Lending will post 0.08 EPS for the current fiscal year.

Open Lending Company Profile

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.